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Text-to-Speech Market by Component (Services, Software or Solution), Type (Neural & Custom, Non-Neural), Language, Deployment Mode, Organization size, Vertical - Global Forecast 2024-2030

Publisher 360iResearch
Published Jan 16, 2024
Length 180 Pages
SKU # IRE18452907

Description

Text-to-Speech Market by Component (Services, Software or Solution), Type (Neural & Custom, Non-Neural), Language, Deployment Mode, Organization size, Vertical - Global Forecast 2024-2030


The Text-to-Speech Market size was estimated at USD 5.02 billion in 2023 and expected to reach USD 5.51 billion in 2024, at a CAGR 9.88% to reach USD 9.72 billion by 2030.

Global Text-to-Speech Market

Text-to-speech (TTS) is an assistive technology that reads digital text aloud by converting any written text into spoken words. The scope of the Text-to-speech market encompasses the development of TTS engines, deployment across various platforms (such as mobile devices, desktops, and cloud services), and customization to suit different languages and voices. The ongoing advancements in natural language processing are stimulating the growth of the Text-to-Speech market. The increased demand for handheld devices and higher emphasis on customer experience management for individuals with disabilities has enhanced the need for Text-to-Speech solutions. The proliferation of AI in various sectors also bolsters the demand for more human-like and context-aware Text-to-Speech systems. However, the complexity of language's phonetics and intonation may hinder the development of natural-sounding speech, limiting the market growth. The high cost of quality TTS software and the need for continuous updates also pose challenges in the market arena. Moreover, the increased adoption of Text-to-Speech in gaming, automotive, and IoT devices is expected to create significant potential for the market. Tailoring solutions for multilingual support and improving emotional intonation in speech synthesis are emerging opportunities in the market space.

Regional Insights

In the Americas region, the United States and Canada are showcasing a thriving Text-to-speech market due to their advanced technological infrastructure and heavy investment in R&D. The Americas region has a strong presence of key players updating their offerings with more natural inflections and accents to cater to a diverse population, contributing to the market growth in the region. The European countries have a strong focus on digital accessibility and privacy regulations influencing the Text-to-speech market in the EMEA region. The stringent regulations for data protection and transparency in voice data handling provide a supportive landscape in the EMEA region. In the APAC region, China, India, and Japan are witnessing a surge in text-to-speech adoption, with significant advancements driven by AI and machine learning. The investments in local language processing technologies are rising in the APAC region, given the complexity of the regional dialects in Asian countries.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Text-to-Speech Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Text-to-Speech Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Text-to-Speech Market, highlighting leading vendors and their innovative profiles. These include Acapela Group, Alphabet, Inc., Amazon Web Services, Inc., Baidu, Inc., CereProc Ltd, GL Communications Inc., GoVivace Inc., IBM Corporation, iFLYTEK Corporation, iSpeech, Inc., LumenVox LLC, Microsoft Corporation, Nexmo Inc., NextUP Technologies, LLC., and Nuance Communications, Inc..

Market Segmentation & Coverage

This research report categorizes the Text-to-Speech Market to forecast the revenues and analyze trends in each of the following sub-markets:

Component
Services
SAAS
Support, Implementation & Consulting
Software or Solution
Type
Neural & Custom
Non-Neural
Language
Arabic
Chinese
English
Hindi
Spanish
Deployment Mode
Cloud Based
On-Premise
Organization size
Large Enterprise
Small & Medium Enterprise
Vertical
Assistant Tool for Visually Impaired or Disabilities (Dyslexic Reader)
Automotive & Transportation
BFSI
Consumer
Education
Enterprise
Government & Legal
Healthcare
Retail & E-Commmerce
Travel & Hospitality
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Text-to-Speech Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Text-to-Speech Market?
3. What are the technology trends and regulatory frameworks in the Text-to-Speech Market?
4. What is the market share of the leading vendors in the Text-to-Speech Market?
5. Which modes and strategic moves are suitable for entering the Text-to-Speech Market?

Note: PDF & Excel + Online Access - 1 Year

Table of Contents

180 Pages
1. Preface
1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders
2. Research Methodology
2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Text-to-Speech Market, by Region
5. Market Insights
5.1. Market Dynamics
5.1.1. Drivers
5.1.1.1. Growing need to optimize customer engagement and communication across enterprises
5.1.1.2. Rising awareness about the need for text-to-speech services among children
5.1.1.3. Government initiatives to drive digital innovations and e-governance
5.1.2. Restraints
5.1.2.1. Limited control over voice and speed and other technical limitations
5.1.3. Opportunities
5.1.3.1. Advancements to improve the efficiency and voice profiles of text-to-speech solutions
5.1.3.2. Adoption of text-to-speech solutions among gamers and medical professionals
5.1.4. Challenges
5.1.4.1. Privacy concerns about text-to-speech solutions and software
5.2. Market Segmentation Analysis
5.2.1. Component: Advancements to improve the functionality and performance of software or solution of text-to-speech
5.2.2. Type: Innovations in the field of AI and ML driving the neural and custom TTS sector
5.2.3. Deployment Mode: Preference for cloud-based deployment of TTS solutions due to its cost-effectiveness
5.2.4. Vertical: Increasing adoption of TTS solutions in the education sector to enable equitable distribution of knowledge
5.3. Market Trend Analysis
5.4. Cumulative Impact of High Inflation
5.5. Porter’s Five Forces Analysis
5.5.1. Threat of New Entrants
5.5.2. Threat of Substitutes
5.5.3. Bargaining Power of Customers
5.5.4. Bargaining Power of Suppliers
5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework
6. Text-to-Speech Market, by Component
6.1. Introduction
6.2. Services
6.3.1. SAAS
6.3.2. Support, Implementation & Consulting
6.3. Software or Solution
7. Text-to-Speech Market, by Type
7.1. Introduction
7.2. Neural & Custom
7.3. Non-Neural
8. Text-to-Speech Market, by Language
8.1. Introduction
8.2. Arabic
8.3. Chinese
8.4. English
8.5. Hindi
8.6. Spanish
9. Text-to-Speech Market, by Deployment Mode
9.1. Introduction
9.2. Cloud Based
9.3. On-Premise
10. Text-to-Speech Market, by Organization size
10.1. Introduction
10.2. Large Enterprise
10.3. Small & Medium Enterprise
11. Text-to-Speech Market, by Vertical
11.1. Introduction
11.2. Assistant Tool for Visually Impaired or Disabilities (Dyslexic Reader)
11.3. Automotive & Transportation
11.4. BFSI
11.5. Consumer
11.6. Education
11.7. Enterprise
11.8. Government & Legal
11.9. Healthcare
11.10. Retail & E-Commmerce
11.11. Travel & Hospitality
12. Americas Text-to-Speech Market
12.1. Introduction
12.2. Argentina
12.3. Brazil
12.4. Canada
12.5. Mexico
12.6. United States
13. Asia-Pacific Text-to-Speech Market
13.1. Introduction
13.2. Australia
13.3. China
13.4. India
13.5. Indonesia
13.6. Japan
13.7. Malaysia
13.8. Philippines
13.9. Singapore
13.10. South Korea
13.11. Taiwan
13.12. Thailand
13.13. Vietnam
14. Europe, Middle East & Africa Text-to-Speech Market
14.1. Introduction
14.2. Denmark
14.3. Egypt
14.4. Finland
14.5. France
14.6. Germany
14.7. Israel
14.8. Italy
14.9. Netherlands
14.10. Nigeria
14.11. Norway
14.12. Poland
14.13. Qatar
14.14. Russia
14.15. Saudi Arabia
14.16. South Africa
14.17. Spain
14.18. Sweden
14.19. Switzerland
14.20. Turkey
14.21. United Arab Emirates
14.22. United Kingdom
15. Competitive Landscape
15.1. FPNV Positioning Matrix
15.2. Market Share Analysis, By Key Player
15.3. Competitive Scenario Analysis, By Key Player
15.3.1. Merger & Acquisition
15.3.1.1. Adobe Acquires Bengaluru-Based Genai Startup Rephrase.Ai
15.3.2. Agreement, Collaboration, & Partnership
15.3.2.1. LIGHTSPEED STUDIOS Partners with AI Singapore to Offer Advanced Text-to-Speech Service for Gamers in Southeast Asia
15.3.3. New Product Launch & Enhancement
15.3.3.1. Meta introduces text-to-speech generative AI model Voicebox
16. Competitive Portfolio
16.1. Key Company Profiles
16.1.1. Acapela Group
16.1.2. Alphabet, Inc.
16.1.3. Amazon Web Services, Inc.
16.1.4. Baidu, Inc.
16.1.5. CereProc Ltd
16.1.6. GL Communications Inc.
16.1.7. GoVivace Inc.
16.1.8. IBM Corporation
16.1.9. iFLYTEK Corporation
16.1.10. iSpeech, Inc.
16.1.11. LumenVox LLC
16.1.12. Microsoft Corporation
16.1.13. Nexmo Inc.
16.1.14. NextUP Technologies, LLC.
16.1.15. Nuance Communications, Inc.
16.2. Key Product Portfolio
17. Appendix
17.1. Discussion Guide
17.2. License & Pricing
FIGURE 1. TEXT-TO-SPEECH MARKET RESEARCH PROCESS
FIGURE 2. TEXT-TO-SPEECH MARKET SIZE, 2023 VS 2030
FIGURE 3. TEXT-TO-SPEECH MARKET SIZE, 2018-2030 (USD MILLION)
FIGURE 4. TEXT-TO-SPEECH MARKET SIZE, BY REGION, 2023 VS 2030 (%)
FIGURE 5. TEXT-TO-SPEECH MARKET SIZE, BY REGION, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 6. TEXT-TO-SPEECH MARKET DYNAMICS
FIGURE 7. TEXT-TO-SPEECH MARKET SIZE, BY COMPONENT, 2023 VS 2030 (%)
FIGURE 8. TEXT-TO-SPEECH MARKET SIZE, BY COMPONENT, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 9. TEXT-TO-SPEECH MARKET SIZE, BY TYPE, 2023 VS 2030 (%)
FIGURE 10. TEXT-TO-SPEECH MARKET SIZE, BY TYPE, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 11. TEXT-TO-SPEECH MARKET SIZE, BY LANGUAGE, 2023 VS 2030 (%)
FIGURE 12. TEXT-TO-SPEECH MARKET SIZE, BY LANGUAGE, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 13. TEXT-TO-SPEECH MARKET SIZE, BY DEPLOYMENT MODE, 2023 VS 2030 (%)
FIGURE 14. TEXT-TO-SPEECH MARKET SIZE, BY DEPLOYMENT MODE, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 15. TEXT-TO-SPEECH MARKET SIZE, BY ORGANIZATION SIZE, 2023 VS 2030 (%)
FIGURE 16. TEXT-TO-SPEECH MARKET SIZE, BY ORGANIZATION SIZE, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 17. TEXT-TO-SPEECH MARKET SIZE, BY VERTICAL, 2023 VS 2030 (%)
FIGURE 18. TEXT-TO-SPEECH MARKET SIZE, BY VERTICAL, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 19. AMERICAS TEXT-TO-SPEECH MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
FIGURE 20. AMERICAS TEXT-TO-SPEECH MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 21. UNITED STATES TEXT-TO-SPEECH MARKET SIZE, BY STATE, 2023 VS 2030 (%)
FIGURE 22. UNITED STATES TEXT-TO-SPEECH MARKET SIZE, BY STATE, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 23. ASIA-PACIFIC TEXT-TO-SPEECH MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
FIGURE 24. ASIA-PACIFIC TEXT-TO-SPEECH MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 25. EUROPE, MIDDLE EAST & AFRICA TEXT-TO-SPEECH MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
FIGURE 26. EUROPE, MIDDLE EAST & AFRICA TEXT-TO-SPEECH MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 27. TEXT-TO-SPEECH MARKET, FPNV POSITIONING MATRIX, 2023
FIGURE 28. TEXT-TO-SPEECH MARKET SHARE, BY KEY PLAYER, 2023

Pricing

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